At what HHI are you willing to pay for an ivy league school
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Anonymous
| Assuming you are middle or upper middle class and won't get any financial aid, at what HHI are you willing to send your DC to a pricey ivy? We make $250k and have a govt pension and close to 2 million in retirement savings...So we could afford it. My dh and I both went to state schools for undergrad and grad....So the idea of spending so much for undergrad seems daunting.... |
Anonymous
| We have just about your exact same stats (also went to state schools for grad and undergrad), and I wouldn't do it unless maybe it was HYP. I'm thinking we'd have to be closer to $350-$400k before considering it. |
Anonymous
| It depends on the Ivy and what they think they want to study. |
Anonymous
+ 1. Higher education is a business. You are paying for the branding of the Ivy and the connections - so, make sure you know both the cost and the worth. |
Anonymous
| I don't understand your question. A better question for me would be "at what income are you willing to pay to send your kid to a pricey non-Ivy private?" I would happily pay for an Ivy or a great state school... it's the non-Ivy private that trip me up where a good state school is an option. |
Anonymous
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There are plenty of degrees for which grad school reputation is more important than undergrad. Grad school tuition is often remitted through grants and teaching assistantships. Which is a long way of saying that I would rather save my money for retirement and potential family crises rather than have to pay for an undergrad brand. |
Anonymous
| None. There is nothing wrong with a public school education, and an Ivy isn't worth the price tag. |
Anonymous
Same here. We have a DC who is a senior and leaning toward an Ivy which we will pay if he ultimately decides to go there (and gets in). Our income seems to be low enough to fully fund DH's 401k and still be just below the line for ROTHs, which we do for both. We have an older child who is a sophomore in an out of state public university. We do not anticipate any financial aid for either. |
Anonymous
| If my kid got into an Ivy I would make it happen even if we had to borrow $. It opens major doors. (I went to a good but not great university so I didn't experience this personally but I saw it from watching peers in the workplace. |
Anonymous
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Similar stats to OP's.
$500k+ is my answer. Otherwise, UVA/VT/W&M in-state. Or, if they want an Ivy, there's ROTC. |
Anonymous
| The Ivy schools are all very different and departmental reputations with employers and graduate programs can really vary. For STEM which is less tied to "any" Ivy branding, MIT, Caltech, UChicago, Carnegie Mellon, Stanford or Princeton are the heavy hitters depending on the major. So for example, for a kid who has serious computer science chops, it would be worth every penny to get their grounding at Carnegie Mellon vs Harvard (as it is today) if it comes down to those two choices. Keep in mind that the kids actually have to be prepared after graduation to flourish. It doesn't matter if the connections land them that first great job if they aren't ready for the challenge of competing with the best. |
Anonymous
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It would really have to be an awesome match between school and kid's passions for me to pay for ivy at any hhi.
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Anonymous
| If the opportunity costs are nicer cars and fancier vacations, do it. For higher education, your peers matter. You'll learn as much from them as you will from your classes. Too much mediocrity at the state flagships. |
Anonymous
This. I'd make whatever sacrificed were necessary to put my kid through an Ivy- any Ivy. |
Anonymous
| Are we taking English major or something that will actually get them a job? |